Filed by Supervalu, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Supervalu Inc., File # 1-5418
Registration No. 333-132397
Date: May 30, 2006
FOR IMMEDIATE RELEASE
SUPERVALU SHAREHOLDERS APPROVE ACQUISITION OF ALBERTSONS PROPERTIES
MINNEAPOLIS - MAY 30, 2006 - In a special meeting today, the shareholders of
SUPERVALU INC. (NYSE: SVU) approved a merger in which SUPERVALU would acquire
the premier retail properties of Albertson's, Inc. Based on preliminary results,
with 80.7 percent of the outstanding shares having been voted, 92.6 percent of
the total shares voting have voted in favor of the transaction. The vote removes
another condition to the closing of the transaction. As previously announced by
Albertson's, Inc., Albertsons shareholders voted to approve the transaction at a
special shareholder meeting held on May 30, 2006. The parties shall now proceed
to close the transaction.
When the transaction is closed, SUPERVALU will acquire the operations of Acme
Markets, Bristol Farms, Jewel, Shaw's Supermarkets, Star Markets, and Albertsons
banner stores in the Intermountain West, Northwest and Southern California
regions. SUPERVALU will also acquire the related in-store pharmacies under the
Osco Drug and Sav-on banners. As a result of the acquisition, which totals more
than 1,100 stores, the new SUPERVALU will become the nation's third-largest
supermarket chain by revenues.
"Among the highlights of this transformational acquisition is the opportunity to
bring a collection of the nation's most prestigious supermarket banners into the
SUPERVALU family, creating a network of approximately 2,500 grocery stores and
nearly 900 in-store pharmacies," said Jeff Noddle, SUPERVALU chairman and chief
executive officer. "We believe that fiscal 2007 is a year in which we will begin
to see strength in the New SUPERVALU as our model reflects the power of our new
retail organization and the benefit of a more profitable retail business mix. I
am excited that the SUPERVALU shareholders share my enthusiasm for the value of
this combination."
ABOUT SUPERVALU INC.
Celebrating its 135th year of fresh thinking, SUPERVALU INC., a Fortune 500
company, is one of the largest companies in the United States grocery channel.
With annual revenues of approximately $20 billion, SUPERVALU holds leading
market share positions across the U.S. with its 1,381 retail grocery locations,
including licensed Save-A-Lot locations. Through SUPERVALU's geographically
diverse supply chain network, the company provides distribution and related
logistics support services to grocery retailers across the nation. In addition,
SUPERVALU's third-party logistics business provides end-to-end supply chain
management solutions that deliver value for manufacturers, consumer products
retailers and food service customers.
SUPERVALU currently has approximately 50,000 employees. For more information
about SUPERVALU visit http://www.supervalu.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF
"SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Except for the historical and factual information contained herein, the matters
set forth in this filing, including statements as to the expected benefits of
the acquisition such as efficiencies, cost savings, market profile and financial
strength, and the competitive ability and position of the combined company, and
other statements identified by words such as "estimates," "expects," "projects,"
"plans," and similar expressions are forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
required approvals by SUPERVALU and Albertsons stockholders and regulatory
agencies, the possibility that the anticipated benefits from the acquisition
cannot be fully realized or may take longer to realize than expected, the
possibility that costs or difficulties related to the integration of Albertsons
operations into SUPERVALU will be greater than expected, the impact of
competition and other risk factors relating to our industry as detailed from
time to time in each of SUPERVALU's and Albertsons reports filed with the SEC.
You should not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Unless legally required,
SUPERVALU undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or otherwise.
ADDITIONAL INFORMATION
SUPERVALU and Albertson's have filed a definitive joint proxy
statement/prospectus with the Securities and Exchange Commission (SEC).
INVESTORS ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS
BECAUSE IT CONTAINS IMPORTANT INFORMATION. You can obtain the definitive joint
proxy statement/prospectus, as well as other filings containing information
about SUPERVALU and Albertson's, free of charge, at the website maintained by
the SEC at www.sec.gov. Copies of the definitive joint proxy
statement/prospectus and the filings with the SEC that have been incorporated by
reference in the definitive joint proxy statement/prospectus can also be
obtained, free of charge, by directing a request to SUPERVALU INC., 11840 Valley
View Road, Eden Prairie, Minnesota, 55344, Attention: Corporate Secretary, or to
Albertson's, Inc., 250 East Parkcenter Boulevard, Boise, Idaho, 83706-3940,
Attention: Corporate Secretary.
For more information about SUPERVALU visit http://www.supervalu.com.